FULL COVERAGE INSURANCE FOR FIRST AND THIRD PARTIES

2007-03-08 10:33:40

( Health )



Full coverage insurance actually refers to liability and physical damage on car insurance coverage. It can refer to first party and third party car insurance coverage.

First Party Full Coverage Insurance

First party coverage refers to the insurance coverage of the principal insured or the driver of the car being insured. There are various types of insurance coverage under the first party full coverage car insurance. Comprehensive, collision, towing and roadside assistance, rental reimbursement, uninsured motorist coverage, and medical payment coverage are the various types of insurance coverage included under first party full coverage insurance for an automobile. Comprehensive coverage addresses damages to the insured’s car brought about by theft, fire, vandalism and weather damage. Collision coverage addresses damage to the car brought about by collision with another vehicle. Towing and roadside assistance coverage addresses mechanical assistance you need when your car experiences mechanical trouble on the road. Rental reimbursement coverage addresses the costs you incur when you are forced to rent a car in the event that your car is not suitable for driving due to mechanical problems. Uninsured motorist coverage addresses damage to your vehicle caused by uninsured motorists. Medical payment coverage addresses cost of medical payments in the event of vehicular accidents involving the insured and his passengers.

Third Party Full Coverage Insurance

Third party coverage refers to the insurance coverage for people involved in the accidents committed by the insured party particularly if the latter is at fault. Insurance coverage on bodily injury and physical damage are the components of third party full coverage insurance. Bodily injury coverage pays the medical bills of the third party driver and his passengers during vehicular accident where the first party insured is at fault. Physical damage coverage pays the repair needed for the damage caused to the third party’s car or property committed by the first party.

There is no such thing as full coverage insurance since the insured has the option to select what type of coverage he will get for his car insurance. The term full coverage is used to mean that the insurance coverage will be covered up to the full value of the car at the time of the accident less the necessary deductibles.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.